Intellectus Partners LLC Invests $429,000 in CoStar Group, Inc. (NASDAQ:CSGP)

Intellectus Partners LLC acquired a new position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,987 shares of the technology company's stock, valued at approximately $429,000.

Several other institutional investors have also recently made changes to their positions in the stock. NS Partners Ltd raised its stake in CoStar Group by 17.8% during the 4th quarter. NS Partners Ltd now owns 214,845 shares of the technology company's stock valued at $15,381,000 after purchasing an additional 32,428 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its stake in CoStar Group by 13.4% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 103,987 shares of the technology company's stock worth $7,534,000 after acquiring an additional 12,292 shares during the last quarter. Callan Family Office LLC purchased a new stake in CoStar Group during the fourth quarter valued at approximately $458,000. E Fund Management Co. Ltd. lifted its stake in shares of CoStar Group by 177.9% in the 4th quarter. E Fund Management Co. Ltd. now owns 12,299 shares of the technology company's stock valued at $880,000 after purchasing an additional 7,873 shares during the last quarter. Finally, Candriam S.C.A. lifted its stake in shares of CoStar Group by 12.3% in the 4th quarter. Candriam S.C.A. now owns 18,818 shares of the technology company's stock valued at $1,347,000 after purchasing an additional 2,054 shares during the last quarter. Institutional investors own 96.60% of the company's stock.

Analyst Ratings Changes

CSGP has been the topic of several recent research reports. Citigroup decreased their price target on CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Royal Bank of Canada reissued a "sector perform" rating and issued a $83.00 target price on shares of CoStar Group in a research note on Wednesday, February 19th. JMP Securities restated a "market outperform" rating and issued a $90.00 target price on shares of CoStar Group in a report on Monday, December 16th. Needham & Company LLC reduced their price objective on shares of CoStar Group from $100.00 to $87.00 and set a "buy" rating on the stock in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group started coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $88.07.

Remove Ads

CoStar Group Stock Up 3.3 %

Shares of CoStar Group stock traded up $2.53 during trading on Friday, hitting $79.39. 3,740,933 shares of the stock traded hands, compared to its average volume of 3,294,107. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock's fifty day simple moving average is $74.73 and its 200 day simple moving average is $75.63. The firm has a market cap of $32.56 billion, a P/E ratio of 226.83 and a beta of 0.93. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts' consensus estimates of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The business had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. On average, equities analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

About CoStar Group

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.